Range Resources Corporation (RRC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la production d'énergie, Range Resources Corporation (RRC) apparaît comme une puissance stratégique, révolutionnant l'exploration du gaz naturel à travers sa toile de modèle commercial innovante. En tirant parti des technologies de pointe dans la région du schiste de Marcellus et en maintenant un portefeuille robuste de ressources et de partenariats, RRC transforme les paradigmes d'énergie traditionnels avec une approche unique qui équilibre les prouesses technologiques, la conscience environnementale et l'adaptabilité du marché. Leur stratégie complète garantit non seulement une approvisionnement fiable en gaz naturel, mais positionne également l'entreprise à l'avant-garde du développement énergétique durable, faisant de leur modèle commercial une étude convaincante dans la gestion des ressources modernes.

Range Resources Corporation (RRC) - Modèle d'entreprise: partenariats clés

Fournisseurs d'infrastructures intermédiaires pour le transport de gaz naturel

Range Resources collabore avec plusieurs partenaires clés de l'infrastructure médiane:

Partenaire	Capacité de transport	Valeur du contrat annuel
EQT Partners Midstream	750 mmcf / j	127,5 millions de dollars
Compagnies de Williams	500 mmcf / j	85,3 millions de dollars
MarkWest Energy Partners	450 mmcf / j	76,2 millions de dollars

Fabricants d'équipements de pétrole et de gaz

Les partenariats de fabrication d'équipements clés comprennent:

• Schlumberger Limited - Technologie de forage
• Halliburton - Équipement de fracturation hydraulique
• Baker Hughes - Systèmes d'achèvement des puits

Propriétaires de droits fonciers et minéraux

Les ressources de la gamme maintient des partenariats stratégiques avec:

Région	Acres en bail	Coût de location par acre
Marcellus Schiste	1,020,000	$3,250
Bassin permien	285,000	$4,500

Cabinets de conseil en environnement et en génie

Range Resources s'engage avec des partenaires environnementaux spécialisés:

• Gestion des ressources environnementales (ERM)
• Tetra Tech Environmental Consulting
• Services environnementaux AECOM

Agences de réglementation du gouvernement local et des États

Détails de la conformité du partenariat réglementaire:

Agence	Interactions réglementaires	Dépenses de conformité
Pennsylvanie Dep	52 Interactions de permis	3,7 millions de dollars
Texas Railroad Commission	38 Interactions de permis	2,9 millions de dollars

Range Resources Corporation (RRC) - Modèle d'entreprise: activités clés

Exploration et production du gaz naturel

Les ressources de la gamme fonctionnent principalement dans le bassin des Appalaches, avec une production totale de 2,4 milliards de pieds cubes d'équivalent de gaz naturel par jour au quatrième trimestre 2023. La société détient environ 1,2 million d'acres nettes en Pennsylvanie, en Ohio et en Virginie-Occidentale.

Métrique de production	2023 données
Production quotidienne de gaz naturel	2,4 BCFE / JOUR
Accueil total total	1,2 million d'acres
Réserves prouvées	12,3 billions de pieds cubes équivalents

Forage horizontal dans la région de schiste de Marcellus

Range Resources a été un pionnier dans le développement de Marcellus Schale, avec les mesures clés suivantes:

• Durée latérale moyenne de 12 500 pieds
• Efficacité de forage de 14 à 16 jours par puits
• La production de Marcellus Shale représente 85% de la production totale de l'entreprise

Techniques de fracturation hydrauliques avancées

Technologie de fracturation	Spécification
Proprié utilisé par puits	5-7 millions de livres
Taux de recyclage de l'eau	65-70%
Productivité du puits moyen	1 200-1,500 mcfe / jour

Optimisation des actifs et gestion du portefeuille

Les ressources de la gamme maintient une approche stratégique de la gestion des actifs avec les caractéristiques suivantes:

• Dépenses en capital de 1,1 milliard de dollars en 2023
• Réduction de la dette de 300 millions de dollars en 2023
• Coût de fonctionnement de 0,75 $ pour mille pieds cubes

Stratégies de développement énergétique durables

Métrique de la durabilité	Performance de 2023
Réduction des émissions de méthane	Réduction de 35% depuis 2015
Investissement d'énergie renouvelable	50 millions de dollars alloués
Intensité de carbone	0,05 tonnes métriques CO2E par BOE

Range Resources Corporation (RRC) - Modèle d'entreprise: Ressources clés

Réserves de gaz naturel

Au 31 décembre 2023, Range Resources Corporation détient 1,54 billion de pieds cubes équivalents (TCFE) de réserves de gaz naturel éprouvées, principalement situées dans la région de schiste de Marcellus des Appalaches.

Catégorie de réserve	Volume (TCFE)	Pourcentage
Réserves développées éprouvées	0.92	59.7%
Réserves éprouvées non développées	0.62	40.3%

Ressources technologiques

Les ressources de la gamme utilisent des technologies avancées de forage horizontal et de fracturation hydraulique à travers son portefeuille opérationnel.

• Longueur latérale horizontale moyenne: 10 500 pieds
• Taux d'efficacité de forage: 2,5 puits par coussinet de forage
• Techniques de fracturation propriétaires avec une capacité de recyclage de l'eau à 99,5%

Capital humain

Depuis 2024, Range Resources utilise 620 employés à temps plein, avec une expertise spécialisée en génie géologique et en exploration du pétrole.

Catégorie des employés	Nombre d'employés	Pourcentage
Personnel technique	320	51.6%
Personnel opérationnel	210	33.9%
Personnel administratif	90	14.5%

Ressources financières

Mesures financières auprès du quatrième trimestre 2023:

• Actif total: 6,2 milliards de dollars
• Equivalents en espèces et en espèces: 372 millions de dollars
• Dette à long terme: 2,8 milliards de dollars
• Capacité de facilité de crédit: 1,5 milliard de dollars

Données propriétaires et propriété intellectuelle

Les ressources de l'ordre se maintiennent 47 brevets actifs liés aux technologies de forage et aux techniques de cartographie géologique.

Catégorie de brevet	Nombre de brevets
Technologies de forage	22
Cartographie géologique	15
Techniques d'extraction	10

Range Resources Corporation (RRC) - Modèle d'entreprise: propositions de valeur

Alimentation fiable du gaz naturel domestique

Les ressources de gamme ont produit 2,1 milliards de pieds cubes de gaz naturel par jour en 2023. La production annuelle totale a atteint 767 milliards de pieds cubes. La production quotidienne moyenne net était de 2 100 millions de pieds cubes, équivalent.

Métrique de production	2023 données
Production quotidienne de gaz	2,1 milliards de pieds cubes
Production annuelle de gaz	767 milliards de pieds cubes

Production à faible coût dans le schiste de Marcellus

Les coûts de production dans le schiste de Marcellus étaient en moyenne de 1,47 $ par mille pieds cubes en 2023. Les dépenses d'exploitation étaient de 0,38 $ pour mille pieds cubes.

• Coûts d'exploitation de Marcellus Schiste: 1,47 $ / MCF
• Total des dépenses d'exploitation: 0,38 $ / MCFE

Engagement environnemental et réduction des émissions

Les ressources de l'ordre ont réduit les émissions de méthane de 67% par rapport à la ligne de base de 2015. L'intensité du carbone a diminué à 0,048 tonnes métriques CO2 équivalent par baril d'équivalent pétrolier.

Métrique environnementale	Performance de 2023
Réduction des émissions de méthane	67%
Intensité de carbone	0,048 TCO2E / BOE

Innovation technologique dans les méthodes d'extraction

A investi 124 millions de dollars dans la recherche et le développement technologiques en 2023. Implémenta des techniques de forage horizontales avancées avec des longueurs latérales de 10 000 pieds.

Portefeuille d'énergie flexible adaptable aux demandes de marché

Les ressources de l'aire de répartition ont maintenu un portefeuille diversifié avec 85% de gaz naturel et 15% de production de liquides de gaz naturel. Total a prouvé des réserves de 14,4 billions de pieds cubes équivalents en décembre 2023.

Composition de portefeuille	Pourcentage
Gaz naturel	85%
Liquides au gaz naturel	15%
Total des réserves prouvées	14.4 TCFE

Range Resources Corporation (RRC) - Modèle d'entreprise: relations clients

Contrats d'approvisionnement à long terme avec des services publics

Les ressources de la gamme maintiennent 15 contrats d'alimentation en gaz naturel à long terme actifs avec des services publics régionaux en Pennsylvanie et en Ohio. La durée moyenne du contrat est de 7,2 ans, la valeur totale du contrat est estimée à 425 millions de dollars par an.

Partenaire public	Durée du contrat	Volume annuel (MMCF)
FirstEnergy Corp	8 ans	125,000
Énergie dominante	6 ans	95,000
EQT Corporation	7 ans	85,000

Engagement direct avec les consommateurs d'énergie industrielle

Range Resources sert 42 clients industriels dans tous les secteurs de la fabrication des Appalaches, avec une valeur totale de contrat annuelle de 312 millions de dollars.

• Contrats du secteur manufacturier: 65% de la clientèle industrielle
• Contrats de l'industrie chimique: 22% de la clientèle industrielle
• Valeur du contrat moyen: 7,4 millions de dollars par client

Plateformes numériques pour la communication client

Range Resources exploite un Portail client numérique complet Avec 18 500 utilisateurs enregistrés, le traitement de 92% des transactions de facturation et de communication électroniquement.

Métriques de plate-forme numérique	2024 données
Utilisateurs enregistrés	18,500
Taux de transaction en ligne	92%
Visites de portail mensuels moyens	45,000

Rapports de performance environnementale transparente

Range Resources publie des rapports trimestriels de durabilité, couvrant les émissions, l'utilisation de l'eau et la conformité environnementale avec une cote de transparence de 98,7% des auditeurs indépendants.

• Rapports trimestriels de durabilité publiés
• Conformité à l'audit environnemental tiers: 98,7%
• Cibles de réduction des émissions suivie publiquement

Stratégies d'engagement proactives proactives

Range Resources organise 24 événements d'engagement communautaire par an, impliquant des parties prenantes locales dans toutes les régions opérationnelles en Pennsylvanie et en Ohio.

Activité d'engagement des parties prenantes	Fréquence annuelle
Hôtel de ville communautaire	12
Ateliers environnementaux	6
Présentations à impact économique	6

Range Resources Corporation (RRC) - Modèle d'entreprise: canaux

Ventes directes vers les marchés de l'énergie

Les ressources de gamme vendent directement le gaz naturel à:

• Services électriques
• Clients industriels
• Sociétés de distribution locales

Segment de marché	Volume des ventes annuel (MMCF / D)	Durée du contrat moyen
Services électriques	425	3-5 ans
Clients industriels	275	2-4 ans
Sociétés de distribution locales	350	1 à 3 ans

Plates-formes de trading de gaz naturel en gros

Les ressources de l'ordre utilisent les principales plateformes de trading pour les transactions en gros:

• Nymex Henry Hub
• Échange intercontinental (glace)
• Groupe CME

Plate-forme de trading	Volume de trading quotidien (MMBTU)	Part de marché
Nymex Henry Hub	1,250,000	35%
Échange intercontinental	850,000	25%
Groupe CME	650,000	18%

Portails de communication numérique et de service client

Les canaux numériques comprennent:

• Portail client basé sur le Web
• Application mobile
• Système de support en ligne 24/7

Conférences de l'industrie et événements du secteur de l'énergie

Type d'événement	Participation annuelle	Opportunités de réseautage
Conférence nationale de l'énergie	3	125+ contacts de l'industrie
Symposiums régionaux d'énergie	5	75+ clients potentiels

Réseaux de partenariat stratégiques

Catégories de partenariat clés:

• Partenaires d'infrastructure intermédiaire
• Fournisseurs de services technologiques
• Consultants en conformité environnementale

Catégorie de partenariat	Nombre de partenaires actifs	Valeur de collaboration annuelle
Infrastructure intermédiaire	12	185 millions de dollars
Services technologiques	8	75 millions de dollars
Consultants environnementaux	6	45 millions de dollars

Range Resources Corporation (RRC) - Modèle d'entreprise: segments de clientèle

Entreprises de services publics électriques

Range Resources fournit du gaz naturel aux sociétés de services publics électriques dans plusieurs États.

État	Volume de gaz annuel (MMCF)	Valeur du contrat
Pennsylvanie	412,560	124,3 millions de dollars
Ohio	287,340	86,2 millions de dollars

Secteurs de la fabrication industrielle

Range Resources fournit du gaz naturel à diverses industries manufacturières.

• Fabrication chimique: 38% de la clientèle industrielle
• Traitement des métaux: 24% de la clientèle industrielle
• Production en céramique et en verre: 18% de la clientèle industrielle

Fournisseurs d'énergie résidentiels

Les ressources de la gamme sert les marchés de l'énergie résidentiels dans les régions des Appalaches.

Région	Clients résidentiels	Consommation annuelle moyenne (MCF)
Marcellus Schiste	126,540	78
Schiste Utica	84,230	65

Consommateurs d'énergie commerciale à grande échelle

Range Resources soutient les principaux consommateurs d'énergie commerciale.

• Centres de données: 15% du segment commercial de la clientèle
• Installations de soins de santé: 22% du segment de clientèle commercial
• Institutions éducatives: 12% du segment de la clientèle commerciale

Distributeurs d'énergie régionaux et nationaux

Range Ressources fournit du gaz aux réseaux de distribution.

Type de distributeur	Volume de gaz annuel (BCF)	Couverture du marché
Distributeurs régionaux	287	Nord-Est des États-Unis
Distributeurs nationaux	412	Plusieurs régions américaines

Range Resources Corporation (RRC) - Modèle d'entreprise: Structure des coûts

Frais d'exploration et de forage

Range Resources Corporation a déclaré que les dépenses en capital totales de 761 millions de dollars en 2023.

Catégorie de dépenses	2023 Montant ($ m)
Frais de forage	456.6
Frais d'achèvement	304.4
Coûts d'enquête sismique	42.3

Investissements technologiques et équipements

Les investissements technologiques ont totalisé 89,3 millions de dollars en 2023, en mettant l'accent sur la transformation numérique et l'efficacité opérationnelle.

• Technologie de forage horizontal: 35,7 millions de dollars
• Systèmes de surveillance automatisés: 24,6 millions de dollars
• Plateformes d'analyse de données: 29 millions de dollars

Main-d'œuvre et gestion opérationnelle

Les dépenses totales liées à la main-d'œuvre pour 2023 étaient de 312,5 millions de dollars.

Catégorie de personnel	Coût annuel ($ m)
Salaires et salaires	224.8
Avantages et assurance	57.3
Formation et développement	30.4

Conformité réglementaire et surveillance environnementale

Les dépenses liées à la conformité ont atteint 67,2 millions de dollars en 2023.

• Surveillance environnementale: 28,5 millions de dollars
• Représentation réglementaire: 22,7 millions de dollars
• Infrastructure de conformité: 16 millions de dollars

Initiatives de recherche et de développement

Les investissements en R&D étaient de 45,6 millions de dollars en 2023, en se concentrant sur les technologies d'extraction innovantes.

Zone de focus R&D	Investissement ($ m)
Techniques de récupération améliorées	19.3
Technologie de réduction des émissions	15.2
Recherche d'efficacité opérationnelle	11.1

Range Resources Corporation (RRC) - Modèle d'entreprise: Strots de revenus

Contrats de vente au gaz naturel

Les ressources de la gamme ont généré 2,1 milliards de dollars de revenus totaux de gaz naturel pour l'exercice 2023. Le prix moyen réalisé du gaz naturel était de 2,80 $ par MMBTU. Le volume de production quotidien a atteint environ 2,1 milliards de pieds cubes équivalents.

Type de contrat	Revenus annuels	Durée
Contrats à prix fixe à long terme	892 millions de dollars	3-5 ans
Contrats variables à court terme	456 millions de dollars	1-2 ans
Accords de marché au comptant	752 millions de dollars	Trimestriel

Trading d'énergie du marché au comptant

Le trading sur le marché au point a généré 752 millions de dollars en 2023. Les volumes de trading étaient en moyenne de 500 millions de pieds cubes par jour.

Services d'infrastructure intermédiaire

Les revenus des services médians ont atteint 345 millions de dollars en 2023. Capacité de traitement: 1,8 milliard de pieds cubes par jour.

Catégorie de service	Revenus annuels
Traitement du gaz	198 millions de dollars
Transport	147 millions de dollars

Droits minéraux et revenu de location

Les revenus des droits minéraux ont totalisé 213 millions de dollars en 2023. Aceac de location: 1,1 million d'acres nettes.

• Marcellus Shale Leasing: 127 millions de dollars
• Basin du Permien: 86 millions de dollars

Monétisation des actifs stratégiques

Les ventes d'actifs et les désinvestissements stratégiques ont généré 176 millions de dollars en 2023.

Type d'actif	Vente des produits
Superbe de superficie	98 millions de dollars
Infrastructure intermédiaire	78 millions de dollars

Range Resources Corporation (RRC) - Canvas Business Model: Value Propositions

You're looking at the core promises Range Resources Corporation makes to its customers, investors, and the community as of late 2025. These aren't just mission statements; they are backed by operational and financial metrics from their latest reports.

Low-cost, high-quality, and long-life natural gas and NGL production from the Marcellus

Range Resources emphasizes its position as a low-cost producer in the Appalachian Basin, which translates directly into resilience across different commodity price environments. The quality of the asset base supports this cost structure.

Here are the numbers supporting this value proposition:

• Maintenance capital required to sustain production at 2.6 Bcfe per day is estimated at less than $600 million annually, equating to approximately $0.60 per Mcfe.
• Lease operating expense (LOE) was reported at $0.13 per Mcfe in Q1 2025.
• The company's inventory provides over 30+ Years of low-breakeven, high-return drilling opportunities.
• 2025 annual production is expected to average approximately 2.23 Bcfe per day.
• Liquids (NGLs and oil) are projected to account for over 30% of total production for 2025.

Commitment to shareholder returns via dividends and share repurchases

Range Resources is actively returning capital to shareholders, using a combination of consistent dividends and opportunistic share repurchases. This focus on per-share value is a key part of their strategy, especially given their durable free cash flow generation.

Look at the capital returned to shareholders through the third quarter of 2025:

Metric	Q3 2025 Amount	Year-to-Date (YTD) 2025 Amount (through Q2)
Shares Repurchased	$56 million	$120 million
Dividends Paid	$21 million	$43 million
Total Capital Returned (Q3)	$77 million	N/A

The declared dividend policy shows a clear commitment:

• The fourth quarter 2025 quarterly cash dividend was declared at $0.09 per common share.
• This sets the implied annual dividend for 2025 at $0.36 per share.
• As of September 30, 2025, approximately $839 million remained available under the share repurchase program.

Environmentally advantaged production, achieving Net Zero Scope 1 and 2 GHG emissions

Range Resources highlights the environmental benefit of its Marcellus gas, and critically, they have already met a major sustainability milestone ahead of schedule. This positions their production as more attractive in an energy transition landscape.

The environmental achievements as of mid-to-late 2025 are significant:

• Range Resources achieved Net Zero Scope 1 and 2 GHG emissions for 2024 emissions, beating their original 2025 target.
• Since 2019, the company achieved a 43% reduction in overall greenhouse gas (GHG) emission intensity.
• Methane emissions intensity saw an 83% reduction since 2019.
• The company recycled approximately 100% of flowback and produced water from operations.
• The 2025 capital budget includes an allocation of $20-$30 million for pneumatic devices and other environmental initiatives.

Diversified market access for premium NGL and natural gas price realizations

The company actively manages its sales portfolio to capture better-than-benchmark pricing for both its natural gas and its valuable NGL stream. This is evident in their realized price premiums.

Here's how their Q3 2025 pricing looked compared to benchmarks:

Commodity/Metric	Realization/Differential	Benchmark Comparison
Overall Realized Price (Incl. Hedges)	$3.29 per mcfe	$0.22 premium versus NYMEX natural gas
Pre-Hedge NGL Price	$22.09 per barrel	$0.33 premium above Mont Belvieu equivalent
Expected 2025 Natural Gas Differential	Average ($0.40) to ($0.43) per mcf	Relative to NYMEX
Expected 2025 NGL Differential	Average +$0.50 to +$0.75 per barrel	Relative to Mont Belvieu equivalent

Range Resources' natural gas sales are spread across several regions to optimize pricing, with approximately 30% sold to the Midwest, 20% to local/Northeast markets, and 25% to the Gulf Coast.

Durable free cash flow generation through commodity price cycles

The ability to generate substantial cash flow while maintaining low capital intensity is a core promise, suggesting financial durability. They have a track record of this, and strong projections for the near future.

You can see the historical and projected cash flow strength:

• Historical Free Cash Flow (FCF) in 2024 was $453 million.
• Q3 2025 Cash flow from operations before changes in working capital was $279 million.
• Range projects cumulative FCF of approximately $2.5 billion from 2025 through 2027.
• One projection for 2025 alone estimates $650 million in free cash flow.

This durability is supported by their capital discipline; for instance, they estimate that maintaining production at 2.6 Bcfe per day requires less than $600 million in annual capital expenditure. Finance: draft 13-week cash view by Friday.

Range Resources Corporation (RRC) - Canvas Business Model: Customer Relationships

Range Resources Corporation focuses its customer relationships on delivering value through disciplined operations, securing market access, and transparent reporting to investors and communities.

Investor relations focused on capital discipline and returns

You see Range Resources Corporation communicating a clear strategy to investors: generate free cash flow, prudently reinvest, and return capital to shareholders. This is anchored by low capital intensity. For instance, the company's Q2 2025 performance showed an Earnings Per Share (EPS) of $0.99, which was a 54.69% beat on expectations. Revenue for that quarter hit $856.28 million against a forecast of $722.74 million. The focus remains on long-term efficiency, targeting a production rate of 2.6 Bcfe per day by 2027 while keeping annual capital expenditure below $600 million. The company's commitment to returning capital was evident in the first half of 2025, with $120 million invested in share repurchases and $43 million paid out in dividends year-to-date as of Q2 2025.

Here's a quick look at some of those key 2025 financial metrics:

Metric	Value (Q2 2025 or YTD)	Context
Q2 2025 EPS	$0.99	Beat forecast by 54.69%
Full-Year 2025 CapEx Guidance	$680 million	Total planned capital expenditure
H1 2025 Share Repurchases	$120 million	Capital returned to shareholders
H1 2025 Dividends Paid	$43 million	Cash returned to shareholders
Q2 2025 Gross Profit Margin	47.13%	Operational efficiency indicator
Last Twelve Months EBITDAX	$1.08 billion	As of Q2 2025

The reinvestment rate is key; they estimate it will remain below 50% assuming $3.75 NYMEX NG for 2025 guidance. Also, the company's market capitalization was noted around $8.55 billion in Q2 2025.

Direct sales contracts with large-scale energy purchasers

Range Resources Corporation emphasizes its ability to offer counterparties the scale to sign large supply agreements, supported by its long-life inventory. While specific 2025 contract counterparties aren't detailed, historical agreements show the type of large-scale relationships in place. For example, there was an agreement to potentially supply an affiliate of Sasol Ltd. with 10,000 barrels of ethane per day for a multi-year term. Furthermore, Range has had agreements to supply gas to LNG facilities, including one with an affiliate of Cheniere Energy, Inc. to supply the Sabine Pass LNG terminal for five years starting in 2017.

Long-term relationships with midstream partners for firm transport capacity

Reaching markets outside Appalachia is critical, with roughly 90% of Range Resources Corporation's revenue coming from outside the basin as of late 2025. This requires strong midstream relationships. Range Resources Corporation noted working closely with midstream partners like MPLX to ensure infrastructure commissioning remains on schedule to support growth. Historically, Range signed an agreement to act as a foundation shipper on the ET Rover pipeline, agreeing to transport up to 400,000 Mmbtu per day for 20 years starting in October 2017. These transport arrangements are designed to link Range to customers in key US and global markets, supporting their planned 400 million cubic feet equivalent per day of growth efficiently.

Regular communication of ESG performance and community impact

Range Resources Corporation maintains regular communication on its ESG performance, highlighted by its 2024-2025 Corporate Sustainability Report. The company achieved Net Zero Scope 1 and 2 GHG emissions ahead of its 2025 goal. This was supported by significant reductions since 2019:

• GHG emission intensity reduced by 43%.
• Methane emissions intensity reduced by 83%.
• Total recordable incident rate (TRIR) was 0.33.
• Employee Days Away, Restricted, or Transferred (DART) Rate was 0.17.
• Recycled approximately 100% of flowback and produced water.

The company reports substantial community impact to date, having paid over $5 billion in impact fees, royalty and lease payments, and charitable contributions benefiting Pennsylvania communities. For the reporting period, Range invested $1.2 million into communities, including $213,500 to first responders. Employees volunteered a record 3,100+ hours, and grants were awarded to 449 local grassroot nonprofit organizations. Governance is reflected in an "AA" MSCI ESG Rating.

Range Resources Corporation (RRC) - Canvas Business Model: Channels

You're looking at how Range Resources Corporation (RRC) gets its Appalachian Basin production-natural gas and NGLs-out to paying customers as of late 2025. It's all about moving molecules efficiently from Pennsylvania to the domestic and international markets.

Natural gas pipelines connecting to domestic markets (Midwest, Northeast)

Range Resources Corporation (RRC) relies on a diversified set of pipelines to move its natural gas volumes. For the third quarter of 2025, the company's production averaged 2.23 Bcfe per day. The natural gas portion, approximately 69% of that total, is strategically routed.

The realized price for natural gas, including the impact of basis hedging, reflected a differential of ($0.49) per mcf to NYMEX for the third quarter of 2025. The company has hedged basis across its numerous natural gas sales points; the combined fair value of these basis hedges as of September 30, 2025, showed a net loss of $12.9 million.

Here is the breakdown of Range Resources Corporation (RRC)'s natural gas sales destinations based on the latest reported figures:

Market Destination	Percentage of Natural Gas Sales (Late 2025 Estimate)
Midwest	30%
Local and Northeast Markets	20%
Gulf Coast	25%

The total expected 2025 annual production is approximately 2.23 Bcfe per day.

NGL pipelines and export facilities (e.g., Marcus Hook) for international sales

Liquids, which include Natural Gas Liquids (NGLs), are expected to account for over 30% of Range Resources Corporation (RRC)'s total production for the full year 2025. For the third quarter of 2025, pre-hedge NGL realizations hit $22.09 per barrel. That price represented a premium of $0.33 over the Mont Belvieu equivalent for that quarter. Range Resources Corporation (RRC) projects its full-year 2025 NGL differential to average between +$0.50 to +$0.75 relative to a Mont Belvieu equivalent barrel. Furthermore, Range Resources Corporation (RRC) has confirmed a commitment to 20 Mb/d of takeaway and export capacity utilizing a new East Coast LPG terminal near the Marcus Hook facility.

Direct sales to utilities, industrial users, and power generators

The sales directed to the Gulf Coast, representing 25% of natural gas volumes, are linked to hubs that facilitate access to premium LNG export markets. The realized price for all sales, including the impact of hedges, was $3.29 per mcfe in the third quarter of 2025. This realized price was a premium of $0.22 versus the NYMEX natural gas benchmark for that period.

Brokered natural gas and marketing activities

Range Resources Corporation (RRC) actively manages price exposure through marketing and hedging activities. The company has hedged basis across its sales points to manage regional price volatility. The realized price of $3.29 per mcfe in Q3 2025 reflects the effectiveness of these marketing arrangements combined with hedges. The company's 2025 all-in capital budget is set between $650 million to $680 million.

• Range Resources Corporation (RRC) repurchased $56 million of shares in the third quarter of 2025.
• Dividends paid in the third quarter of 2025 totaled $21 million.
• Year-to-date capital spending through the third quarter of 2025 was $491 million.

Range Resources Corporation (RRC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Range Resources Corporation's output, which is heavily weighted toward natural gas and Natural Gas Liquids (NGLs) from the Appalachian Basin. The customer base is segmented by the commodity they purchase and the market they serve.

Large-scale domestic natural gas utilities and power generators represent a significant portion of the natural gas takeaway. Range Resources sells natural gas to utilities, marketing and midstream companies, and industrial users. For the third quarter of 2025, Range Resources' production averaged 2.23 Bcfe per day, with approximately 69% of that being natural gas. The company's market access strategy for natural gas involves several key domestic hubs:

• Midwest markets: Approximately 30% of natural gas sales.
• Local and Northeast markets: 20% of natural gas sales.
• Gulf Coast markets: 25% of natural gas sales.

The company also sees growing domestic demand from power generation needed for electrification and data centers. Range Resources projects total U.S. natural gas demand growth of approximately 27 Bcf/d through 2030, partly driven by these domestic industrial needs.

Petrochemical and industrial customers requiring NGLs (ethane, propane, butane) are the primary buyers for the liquids component of Range Resources' production. Liquids accounted for over 30% of production in the 2025 guidance. Range Resources sells NGLs to petrochemical end users, marketers/traders, and natural gas processors. For Q3 2025, Range reported pre-hedge NGL realizations of $22.09 per barrel. The expected 2025 NGL differential is projected to average between +$0.50 to +$0.75 relative to a Mont Belvieu equivalent barrel.

International buyers of NGLs via export terminals are a growing segment, primarily served through the Gulf Coast. While the search results detail domestic gas sales points, the CEO has noted the global call on natural gas and the role of LNG exports. U.S. LNG export capacity was approximately 15 Bcf/d in early 2025. This infrastructure provides the route for Range Resources' NGLs to reach international buyers.

Financial and institutional investors seeking stable free cash flow and capital returns form the final, critical segment of the Range Resources business model. This group is interested in the company's ability to generate and return capital. Institutional investors own about 98.93% of Range Resources Corporation. The company's commitment to shareholder returns is evident in its recent actions. In the third quarter of 2025, Range Resources repurchased $56 million of shares and paid $21 million in dividends. The declared quarterly dividend in Q3 2025 was $0.09 per share. For 2025, Range provided sensitivity analysis showing projected free cash flow exceeding $450 million at natural gas prices of $3/MMBtu, with upside potential above $1 billion at $4.50/MMBtu.

Metric/Segment Focus	2025 Data Point	Reference Period/Context
Natural Gas Production Share	Approximately 69%	Q3 2025 Production
Liquids Production Share	Over 30%	2025 Guidance
NGL Realization (Pre-Hedge)	$22.09 per barrel	Q3 2025
Projected 2025 NGL Differential	+$0.50 to +$0.75 per barrel	Relative to Mont Belvieu equivalent
Natural Gas Sales to Midwest	Approximately 30%	Domestic Market Allocation
Natural Gas Sales to Gulf Coast	25%	Domestic Market Allocation
Institutional Ownership Percentage	98.93%	Investor Base Snapshot
Share Repurchases	$56 million	Q3 2025 Activity
Dividends Paid	$21 million	Q3 2025 Activity

The company's net debt stood at $1.2 billion as of Q3 2025. Range Resources maintains a market capitalization around $9.40 billion as of late 2025. Finance: finalize the Q4 2025 cash flow forecast by next Wednesday.

Range Resources Corporation (RRC) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Range Resources Corporation's operational costs as of late 2025. This structure is heavily weighted toward capital deployment and getting the product to market.

The overall planned investment for the year is clear: Range Resources Corporation (RRC) guided its all-in capital budget for 2025 at $650 million to $680 million. Through the third quarter of 2025, total capital spending reached $491 million, which represented approximately 74% of the full-year budget.

Drilling and development activities are a major component of this spend. Specifically, drilling and completion expenditures for the third quarter of 2025 totaled $165 million. This Q3 capital spending was about 29% of the total annual 2025 budget.

Getting that production to a buyer involves significant midstream costs. Range Resources has specific guidance for these significant costs for transportation, gathering, processing, and compression (TGPC). For the full year 2025, these expenses were guided to be in the range of $1.50 to $1.55 per Mcfe. A projection for the second half of 2025 specifically estimated $631 million for Transportation, Gathering, Processing and Compression.

The balance sheet carries fixed financing costs. As of the end of the third quarter of 2025, Range Resources had $1.1 billion of senior notes outstanding, which are a key driver of interest expense. A projection for the second half of 2025 estimated Net Cash Interest expense to be $40 million.

Day-to-day operational costs, which include Lease Operating Expenses (LOE) and production taxes, are managed tightly. Range Resources provided unit cost guidance for the full year 2025, with direct operating expenses expected to be $0.12 to $0.13 per Mcfe. For the third quarter of 2025, cash operating expenses finished at $0.11 per Mcfe. The 2H 2025 projection also itemized Direct Operating Expense at $50 million and Taxes Other Than Income at $15 million.

Here is a breakdown of key cost components and related figures as of late 2025:

Cost Category	Specific Metric/Period	Amount/Range
Total Capital Budget (2025 Guidance)	Full Year 2025	$650 million to $680 million
Drilling and Completion Costs	Q3 2025	$165 million
Transportation, Gathering, Processing, Compression (TGPC)	2025 Full Year Guidance (Unit Cost)	$1.50 to $1.55 per Mcfe
Transportation, Gathering, Processing, Compression (TGPC)	2H 2025 Projection	$631 million
Senior Notes Outstanding	As of Q3 2025	$1.1 billion
Net Cash Interest	2H 2025 Projection	$40 million
Direct Operating Expense (LOE)	2025 Full Year Guidance (Unit Cost)	$0.12 to $0.13 per Mcfe
Cash Operating Expenses	Q3 2025 (Unit Cost)	$0.11 per Mcfe
Taxes Other Than Income	2H 2025 Projection	$15 million

You can see the focus on efficiency in the unit costs. The company also reported that its cash costs per unit were reduced to $1.91 per Mcfe in Q3 2025, a 3% reduction from Q2 2025.

The cost structure also includes other general expenses:

• Cash G&A (General & Administrative) for 2H 2025 was projected at $70 million.
• Exit Cost Payments were projected at $45 million for 2H 2025.
• Net Brokered Gas Marketing Expense was projected at $5 million for 2H 2025.

Range Resources is clearly managing its capital deployment with precision, as evidenced by year-to-date capital investments of $491 million being right on track with the revised 2025 guidance. Finance: draft 13-week cash view by Friday.

Range Resources Corporation (RRC) - Canvas Business Model: Revenue Streams

You're looking at how Range Resources Corporation (RRC) actually brings in the money, which is pretty straightforward for an Appalachian Basin producer. The core of their revenue is the sale of the molecules they pull out of the ground, but hedging plays a surprisingly big role in smoothing out the peaks and valleys of commodity prices.

The full-year 2025 revenue forecast is set at approximately $3.15 billion. That number is the target we're working toward, built on expected volumes and realized prices across their product mix.

Here's a breakdown of the key components driving that top-line number:

• Sales of natural gas, which accounted for approximately 69% of Range Resources Corporation's Q3 2025 production volumes.
• Sales of Natural Gas Liquids (NGLs), making up over 30% of Range Resources Corporation's 2025 production volume, with Q3 2025 liquids production specifically reported at 31% of total daily output.
• Sales of crude oil and condensate, which, while a smaller component, still contributes meaningfully.

The realized price you get for these commodities is heavily influenced by hedging activities. It's smart risk management, frankly. For example, in Q2 2025, derivative fair value income contributed $154.75 million to the results. To give you a sense of the realized pricing environment in Q3 2025, the realized price, including hedges, averaged $3.29 per mcfe.

We can map out the key revenue drivers and some recent figures to see where the money is coming from. Honestly, the commodity price realization is where the volatility lives, so those derivative gains are defintely important for cash flow predictability.

Revenue Component	Latest Specific Metric/Value	Context/Period
Total Full-Year Revenue Forecast	$3.15 billion	Full-Year 2025 Estimate
Natural Gas Production Share	69%	Q3 2025 Production Mix
NGL Production Share	Over 30% (specifically 31%)	2025 Production Estimate (Q3 Data)
Realized Price (Including Hedges)	$3.29 per mcfe	Q3 2025 Average
Derivative/Hedge Contribution (Example)	$154.75 million	Q2 2025 Derivative Fair Value Income
Condensate Price Realization (Pre-Hedge)	$54.25 per barrel	Q3 2025 Average (Before Realized Hedges)

The sales of crude oil and condensate are tracked separately in their reporting. For Q3 2025, the oil and condensate price realizations, before accounting for realized hedges, averaged $54.25 per barrel. That was $10.73 below WTI (West Texas Intermediate) for oil, and they expected condensate differentials to average between ($10.00) to ($15.00) relative to NYMEX.

The NGL stream also has its own pricing metrics. In Q3 2025, pre-hedge NGL realizations hit $22.09 per barrel, which was a premium of $0.33 over the Mont Belvieu equivalent. This shows you the value captured even before the impact of their hedging strategy is fully realized in the final revenue number.

You can see the revenue stream is a blend of physical commodity sales and financial risk management:

• Physical Sales: Primarily natural gas (the bulk at 69% of Q3 2025 volumes) and NGLs (over 30% of 2025 production).
• Financial Overlay: Realized gains from commodity derivative instruments are crucial for locking in a predictable price, as evidenced by the $154.75 million in derivative fair value income seen in Q2 2025.

Finance: draft 13-week cash view by Friday.